Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

What to know about the group Erdogan is blaming for Turkey’s coup

Gülen’s movement presses for a moderate version of Sunni Islam that emphasizes tolerance and interfaith dialogue. The organization lacks any official hierarchy or structure, but followers have built up a network of think tanks, schools and publications in locations around the world.

Gülen book finds wide readership in northern Iraq

A book written by Kurdish journalist Rebwar Karim on Islamic scholar Fethullah Gülen’s approach to the Kurdish question has been attracting a significant amount of attention in northern Iraq.

Turkish nationals in South Africa fear abductions

“Yesterday we were sitting together, today they call us terrorists. Immediately overnight they changed.” A conspicuously distressed Turkish national uttered these words during an interview with The Star at the Nizamiye Mosque Complex in Midrand.

Kimse Yok Mu launches large-scale aid campaign for Syrian refugees

İPEK ÜZÜM, İSTANBUL Turkish aid organizations have launched a joint large-scale aid campaign to provide food and shelter from the cold to Syrian refugees who fled to Turkey to escape from the intensifying violence in their country. Syrian refugees in Turkey, whose number has reached 132,920 according to a written statement recently released by the […]

Turkey removes evidence of torture, maltreatment in prisons ahead of ‘Committee for the Prevention of Torture’ visit

The National Police Department warned all its personnel to obey international rules of detention and to stop using unofficial detention centers days before a delegation from the Committee for the Prevention of Torture (CPT) was to pay a visit to Turkey in order to ascertain if people in custody are subject to any maltreatment, according to an anonymous tip received by Turkey Purge.

Turkish Cleric, Accused in Coup Plot, Calls Crackdown ‘Dark Pages’ in History

The Turkish Muslim cleric accused by Turkey of plotting a failed coup two months ago denounced the repression of his supporters, calling the crackdown “dark pages in world history.” The severity of the crackdown in Turkey has raised concerns in the United States and Europe that Mr. Erdogan has used the failed coup as a pretext to eradicate political rivals and groups he deems a threat to his power.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Fethullah Gulen Cited among Watkins’ 2019 the Most Spiritually Influential 100 Living People

Kimse Yok Mu to distribute 90,000 food packages during Ramadan

Obama to become a parallel, too?

Gülen says he could be blamed for assassination of an MHP, CHP politician

Bradley Hawkins on Fethullah Gulen and Hizmet Movement

Turkish school shows EU already chose Turkey

Dissidents of the Turkish government are living in fear in Canada

Copyright 2026 Hizmet News